JICA sponsors a $25-million wind energy development project in Ninh Thuan

The project's 88 MW of total producing capacity is estimated to help reduce CO2 emissions by around 215,000 tons annually.

This project is JICA's second finance for a wind power generation project in Viet Nam.

The borrower is a project company that is owned by BIM Energy Holding (Vietnam), a division of BIM Group, a private company in Vietnam, and ACEN Vietnam Investment Pte Ltd., a division of ACEN, a publicly traded company that specializes in energy and is a part of the Ayala Group, one of the largest companies in the Philippines.

JICA, the Asian Development Bank (ADB), as well as additional lenders such as Sumitomo Mitsui Bank, Hong Kong Mortgage Corporation Limited, ING Bank, and Cathay United Bank, are all contributing to the project's co-financing.

Vietnamese and Filipino businesses will carry out this project, using funds raised from private foreign financial institutions.

Following the signing of the "Quang Tri Province onshore wind power project" in May 2021, this project is still being promoted as a model for the construction of additional renewable energy projects built by the private sector.

Source: Báo Pháp luật Việt Nam